Sappi (OTCMKTS:SPPJY) Trading Down 8.2% – Here’s What Happened

Sappi Ltd. (OTCMKTS:SPPJY)’s share price fell 8.2% during mid-day trading on Monday . The stock traded as low as $0.8310 and last traded at $0.8310. Approximately 1,405 shares changed hands during trading, a decline of 90% from the average session volume of 13,716 shares. The stock had previously closed at $0.9056.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Sappi from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Sappi Stock Performance

The company has a market capitalization of $502.41 million, a PE ratio of -0.61 and a beta of 0.62. The stock’s fifty day simple moving average is $0.85 and its 200-day simple moving average is $0.89. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.66 and a current ratio of 1.27.

About Sappi

Sappi Limited is a global diversified woodfibre company that produces and sells paper, pulp and related biomaterials. Its portfolio includes graphic papers, packaging and specialty papers, and dissolving pulp used in products such as textiles, cellophane and other cellulose-based materials.

The company serves customers in publishing, commercial printing, packaging, labeling, food and beverage, consumer products, and industrial markets. Sappi also develops renewable, fibre-based alternatives and speciality cellulose products designed for applications that traditionally rely on fossil-based or non-renewable materials.

Founded in South Africa in 1936 as South African Pulp and Paper Industries, the company adopted the Sappi name in 1973 and expanded internationally through acquisitions and the development of manufacturing operations.